Buying a franchise in Hong Kong
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I would like to develop a new business in Australia, I have found a company called "Polyglot Group", which is supposed to be specialised in giving package to expand or start business in foreign countries and especially in Australia. I was wondering if anyone has had any experience with the company and could give me some reccomendations? Thank you for your responses,Pentcheff
Total Posts: 1 Last post by Pentcheff
Buying a Franchise in Hong Kong
Buying into a franchise model is often described as working for yourself, but not by yourself. The concept is a simple one, whereby a successful business or successful brand has chosen franchising as a way to expand rapidly, but has chosen a business model that works with local owners of local businesses.
Franchise owners have invested a franchise fee in return for Ownership of a business that is proven. The owner of the franchise network should give their franchisee all the tools he or she needs to run a successful, profitable business. In return for the franchise fee, and a small percentage of the revenue, a franchise owner (franchise) can expect full head office support, use of the brand, and the advice and encouragement of the franchisor. They will most importantly benefit from working to a proven business model, where the right suppliers have been sourced, the right pricing structure worked out, the right business systems adapted. By the time a company is successful enough to consider franchising as a way to expand, you can be fairly sure that the franchisor has made all the wrong business decisions, so that you, as a franchisee buying into a franchise model, don't have to.
The benefits of buying a franchise a huge. You don't need to worry about whether customers will like your product. You don't need to worry about how much you should charge for your service. You don't need to worry about designing a logo, or writing sales literature. All this will have been worked out for you, leaving you to run the business on a day to day basis. When you buy a franchise you will, right from the start, have a network of people who can help you make the business a success, as well as testimonials from happy clients from customers in different parts of the country. Imagine opening a store where the first person to enter your store was, in theory, your one millionth happy customer. Imagine picking up the phone to introduce your new business to someone who knows of and respects your brand. Imagine people calling you on the back of a national television advertising campaign. These are some of the benefits of buying a franchise. Of course, franchisers are looking for the right people to work with. The more successful you are, the more they will receive in royalty fees. So it is important to ask yourself some questions before buying a franchise, not least the question: what type of franchise is right for me?
Franchise opportunities are generally described in the following categories:
- Accountancy Franchises
- Advertising Franchises
- B2B Franchises
- Beauty Franchises
- Business Consulting Franchises
- Business Opportunities
- Cafe Franchises
- Care Franchises
- Catering Franchises
- Children Franchises
- Cleaning Franchises
- Clothing Franchises
- Coffee Franchises
- Construction Franchises
- Consulting Franchises
- Convenience Store Franchises
- Decorating Franchises
- Digital Production Franchises
- Education Franchises
- Employment Franchises
- Environmental Franchises
- Event Planning Franchises
- Fast Food Franchises
- Finance Franchises
- Food Franchises
- Franchise Resales
- Franchises For Women
- Health Franchises
- Home and Garden Franchises
- Home Based Franchises
- Home Improvement Franchises
- Ice Cream Franchises
- International franchises
- Internet Franchises
- IT Franchises
- Low Cost Franchises
- Master Franchise Opportunities
- Mobile Franchises
- Personal Care Franchises
- Pet Franchises
- Pizza Franchises
- Print Franchises
- Promotional Products Franchises
- Property Franchises
- Recruitment Franchises
- Residential Cleaning Franchises
- Restaurant Franchises
- Retail Franchises
- Sign Franchises
- Van Based Franchises
- Vending Franchises
- Women's Franchise
When considering buying a franchise you also need to work out how much you can afford to invest, whether you want to employ people, how much money you want to make, and how you want to make your living. The good news is that there is likely to be a franchise concept that ticks most, if not all of the boxes. If you want to buy a low cost franchise, there are many on the market. There are as many white collar franchise opportunities as there are food based franchises. There are part time franchise opportunities and there are full time franchise opportunities.
The only thing that all franchise opportunities have in common is that they reward hard work. For although you have in effect bought all the tools to run a successful business, the only way for that business to operate profitably is for you to use those tools.
Remember that if you buy a franchise, you are buying into a business that is your own, and that you can sell when the time and price is right.
Franchise Associations in Hong Kong:
Hong Kong Franchising Association
Organisations that can assist with Buying a franchise
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